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Home › Frameworks › Financial services › The Capital Market Law
| Type | Law |
|---|---|
| Issuing authority | Capital Market Authority (CMA) |
| Framework | Financial services |
| Tier | Primary law: niẓām (Royal Decree M/…) |
| Legal status | In force |
| Instrument number | M/30 · Royal Decree |
| Issued | 2003-06-16 (2/6/1424H) |
| Last verified | 2026-10-20 |
The Capital Market Law is the founding statute of Saudi Arabia's securities regime, issued by Royal Decree M/30 (2/6/1424H, 16 June 2003) and since amended. Its ten chapters and 67 articles establish the Capital Market Authority (CMA) as the sector regulator and create the market's core institutions (the Exchange (Tadawul), the Securities Depository Center and the Clearing Center), together with the Committee for the Resolution of Securities Disputes.
The Law regulates brokers and Exchange members, investment funds and collective investment schemes, issuer disclosure, and proxy solicitations; it prohibits market manipulation and insider trading, and closes with sanctions and penalties. The CMA issues the Implementing Regulations that give the Law operational effect, under which its rules for capital-market institutions (including technology and cyber-security requirements) are made.
Alongside the Saudi Central Bank Law, it is one of the Kingdom's two tier-1 financial statutes. Under it the CMA regulates listed issuers (disclosure, offers, governance) as well as Capital Market Institutions (CMIs); its Cybersecurity Guidelines apply to CMIs, not to listed issuers. The hosted English text is an unofficial translation; the Arabic original prevails.
Content and register data licensed CC BY 4.0. Cite the live URL. Machine-readable register (JSON) · Markdown register · Content last verified: 2026-10-21